Latest Marsh McLennan Headlines
All the headlines from our Marsh McLennan Topic Page, ordered by recency.
S&P Keeps MMC on CreditWatch Negative
Dec 16 2004 // Standard & Poor’s Rating Services announced that its “BBB” long-term counterparty credit and senior debt ratings on Marsh & McLennan Cos. (MMC) will remain on CreditWatch negative. The decision...
Guy Carpenter to Use Criterion Research D&O Model
Dec 7 2004 // Guy Carpenter & Company, Inc., Marsh & McLennan’s reinsurance specialist, and Criterion Research Group LLC, an independent investment research firm, announced that they have entered into a licensing...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement Marsh & McLennan has been in constant contact and cooperation with New York Attorney Eliot...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement: Marsh & McLennan (MMC) has been in constant contact and cooperation with New York...
Fla. Subpoenas Marsh & McLennan; Reviewing State Agencies’ Contracts
Dec 6 2004 // In an effort to obtain a better look at insurance contracts with state agencies and any impact on public dollars, Tom Gallagher, Florida Chief Financial Officer, has subpoenaed Marsh & McLennan to obtain documents...
Marsh ‘Hopeful’ of Quick Settlement But No Timetable Has Been Set
Nov 23 2004 // Marsh & McLennan has been in constant contact and cooperation with New York Attorney General Eliot Spitzer and 26 other states investigating its insurance brokerage practices and while the ultimate objective is to...
S&P Lowers Credit Ratings on MMC
Nov 23 2004 // Standard & Poor’s Ratings Services lowered its counterparty credit and senior debt ratings on Marsh & McLennan Cos. Inc. (MMC) to ‘BBB/A-2’ from ‘BBB+/A-2’. The ratings remain on...
MMC TO LAY OFF 3,000:
Nov 22 2004 // Marsh & McLennan Companies Inc. (MMC) revealed it would lay off about 3,000 employees to reduce annual expenses by $400 million. About three-quarters of the layoffs will occur in the insurance and risk management...
Marsh & McLennan Cuts Five Internal Executives from Board; Names Beshar as New Counsel
Nov 18 2004 // Marsh & McLennan Companies Inc. (MMC), parent to insurance broker Marsh, announced that five members of its board of directors, who are also executives of the company, have stepped down from their positions on the...
Fla. Investigation: Brown & Brown Says It Carefully Monitors Brokers
Nov 10 2004 // Brown & Brown Inc. is confident that twin investigations of the insurance industry by Florida officials will reveal no wrongdoing by the Daytona Beach-based company or its brokers, its president says. Jim Henderson,...
Marsh to Lay Off 3,000 in Cost-Cutting Move
Nov 9 2004 // Marsh & McLennan Companies Inc. (MMC) today revealed it would lay off about 3,000 employees to reduce annual expenses by $400 million. About three-quarters of the layoffs will occur in the insurance and risk...
Guy Carpenter Names Carrington to Lead U.K. Casualty Specialty Practice
Nov 3 2004 // Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced the appointment of George Carrington as Senior Vice President in Guy Carpenter’s U.K....
Henriques Joins Guy Carpenter Professional Liability Specialty Practice
Nov 2 2004 // Guy Carpenter & Company Inc., the global risk and reinsurance division of Marsh & McLennan, announced the appointment of Bill Henriques as senior vice president in its Professional Liability Specialty...
Fitch Drops Marsh & McLennan’s Senior Debt
Oct 28 2004 // Fitch Ratings has downgraded the senior debt and long-term ratings on Marsh & McLennan Companies Inc. (Marsh) to ‘BBB’ from ‘A-‘. The short-term ratings on Marsh remain at ‘F2’. All...
S&P Announces Reaction to Recent MMC Developments
Oct 27 2004 // Following recent developments at Marsh & McLennan, Standard & Poor’s Ratings Services has issued a bulletin, which sets forth its initial reaction to the changes (See related articles). S&P said its...
Guy Carpenter Unveils Reveal for Workers’ Comp Risks
Oct 27 2004 // Guy Carpenter & Company Inc. has announced the introduction of the Reveal model, a refined exposure rating tool that helps to identify the drivers of costly excess losses within workers’ compensation...
Greenberg Out, Cherkasky In, at Marsh; Broker Vows to Unveil ‘Significant Reforms’ Today
Oct 26 2004 // Jeff Greenberg The Marsh & McLennan board of directors announced it has accepted the resignation of chairman and chief executive officer Jeffrey W. Greenberg. Stepping in to immediately replace Greenberg is Michael G....
N.Y. Attorney General Spitzer Sues Marsh Over Contingent Commissions
Oct 25 2004 // New York Attorney General Eliot Spitzer on Oct. 14 sued Marsh & McLennan Companies, the nation’s biggest insurance brokerage firm, alleging that it steered clients to insurers with whom it had lucrative...
Marsh Called to N.Y. Department Hearing Nov. 23
Oct 22 2004 // New York Superintendent of Insurance Gregory V. Serio announced that his department has issued citations to Marsh & McLennan Companies, Inc. (MMC), Marsh, Inc., and Marsh Global Broking, wholly owned subsidiaries of...
Marsh Pegs Contingency Payments at Center of Probe at $1.2 Billion in Past 18 Months
Oct 21 2004 // The company at the center of a probe into insurance brokerage fees says it took in more than $1.2 billion in incentive payments over the past 18 months and that its decision to stop using such fees will reduce operating...
